Feature Story

SARAJEVO CITY CENTRE WAS OPENED IN SARAJEVO

3/20/2014

With the introduction of Shopping Mall with about 1 hundred shops, employing more than 1.000 people, Sarajevo City Centre (SCC) opened on 20th March 2014.

Shopping mall and entertainment complex located on an area of about 50.000 square meters includes retail and ancillary services, with the emphasis on the most well-known international brands such as Zara, Stradivarius, Massimo Dutti, Pull & Bear, Bershka...

The shopping centre contains: hypermarket, IT shops, clothes and footwear shops, and more than 3,000 square meters are reserved for gastronomy and the only family entertainment centre in BiH, located on the third and on the fourth floor representing one of the most important attractions of SCC.

At the opening ceremony, High Representative in BiH Valentin Inzko said he was particularly pleased by the fact that the realization of this project engaged local companies and that it will employ 1.000 people.

Ambassador of the Kingdom of Saudi Arabia to BiH Eid bin Mohammed bin Al - Thakafi, said SCC was designed according to the highest standards of construction and represents a nice addition to the city architecture.

He expressed hope that its implementation also represents an incentive for other investors.

During the opening ceremony, the owner of Al - Shiddi Group Sulaiman Al - Shiddi said that this was a gift to the city and the citizens of Sarajevo.

On that occasion it was pointed out that from the planning phase of the project to date, over 100 companies were engaged in the construction of SCC.

The centre is located at Marin Dvor, consists of five-star hotels and business offices that are in the final stage of construction, a shopping centre and an entertainment complex, and more than 1.100 parking spaces organized in four storeys of underground parking.

As previously announced, upon completion of all phases of hotel and office tower, the SCC will employ around 1.500 people.

The hotel will have 224 rooms and 13.900 square meters of total constructed area, four restaurants, as well as presidential suites with exclusive design in accordance with the world's finest hotels, and as well as a large conference room.

The total amount of Al Shiddi Group investments in BiH so far amounts to about 130 million Euros, tenants' investment in their premises were around 30 million Euros, and the total investment will, together with the office part of the hotel, reach 150 million Euros.

Testimonials & Success Stories
 

Global Investment Promotion Best Practices 2012 of the World Bank has cited one example of support that FIPA provides to foreign investors who are running business in Bosnia and Herzegovina in order to contribute to increase the flow of foreign capital in the country.

The article said:  

„The Foreign Investment Promotion Agency (FIPA) of Bosnia and Herzegovina was an early convert to the idea of providing facilitation services to agribusiness investors as a way to maximize the positive impact of agriculture on the economy.

In 2007, for example, FIPA assisted a Dutch food processing company establish a US$1.6 million production facility to process unused milk ingredients into value-added products in Sarajevo to sell to markets in Eastern Europe and the Middle East.

As part of its aftercare program, FIPA assisted the company with its expansion plans. Among other things, the agency helped facilitate veterinary permissions, navigate various bureaucratic hurdles and played an important role in securing funding for the company’s expansion. It also helped develop a network of local suppliers and customers. As a result of these efforts, the Dutch investor developed stronger links with the Bosnian economy, thus increasing the positive spillover effects on the local economy.

Currently a new investment to establish a drying facility for milk powder is under way. This will further expand the processing facilities of unused milk ingredients. This additional planned investment is worth approximately US$2.8 million, thus nearly trebling the company’s original investment in the country“.

 

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